Rishi Sunak gambled on early election because his plan is 'failing'

27 May 2024 , 21:30

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Rachel Reeves will deliver her first major speech of the General Election campaign (Image: Getty Images)

Rachel Reeves will today accuse Rishi Sunak of gambling on an early general election because his economic plan is failing.

In her first major speech of the General Election campaign, the Shadow Chancellor will promise to "bring growth back to Britain''. Ms Reeves, who has spent years wooing business, will say: “If we can bring business back to Labour, then I know we can bring business back to Britain."

She will also blast the Tories accusing them of having left national debt more than double with the average mortgage holder now paying £240 more a month.

The senior Labour figure will say: “The Conservatives’ have failed the economy. The plan isn’t working. And Rishi Sunak ’s decision to call an early election is the clearest sign of that. If he doesn’t believe his plan is working, why should you?”

Last week it was reported the PM decided to call the surprise vote after he was told there was no room for major tax cuts in the autumn months.

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One Whitehall source told the Daily Telegraph: By the time you have factored in the increased defence spending, the need to keep some money back for extra NHS spending going into the winter, the compensation payments for the victims of the infected blood and Post Office scandals, there wouldn’t have been any money left for a people-pleasing budget with meaningful tax cuts."

Ms Reeves will also urge voters to use July's General Election to "pass judgement on 14 years of economic chaos and decline" under the Tories.

Ashley Cowburn